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Vertex calls on lenders to get involved in arrears study

Vertex is calling on lenders to get involved in an arrears bench marking study it’s running to help the industry measure collections performance.

Run in conjunction association with Frank Eve Consulting, Vertex says that in the current challenging environment many lenders are focused on adopting risk strategies and techniques to meet the aims of rehabilitating borrowers in default and minimizing losses.

The study will therefore provide a useful comparison across the industry.

The information gathered will relate to the past year and there will be an option to contribute to a half-yearly update.

Analysis will be split by different lending types, tracking key indicators and including detailed process timelines and third party commentary.

The research will seek contributions from UK lenders with the aim of providing tailored reports to participants, and publishing headline findings in June 2009.

Mark Charlesworth, managing director of Vertex Financial Services, says: “This anonymous study will enable participants to judge their performance against the sector average on a wide range of variables that are critical in determining risk management and recovery strategies.”

Frank Eve managing director of Frank Eve Consulting, says: “This study comes at a time when the spotlight is on lenders collections and recoveries and it will provide participants with the tool to measure their progress against an industry benchmark.

“The combined expertise of our two companies in developing market leading research will ensure that the study is the definitive benchmark of arrears and repossession information in the industry.”

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